/biz/ - Business & Finance

WHY DOES NOBODY UNDERSTAND BASIC ECONOMIC CONCEPTS?

I just missed most of the Penguins game tonight because I was stuck in a conversation about economics with somebody who thought it would be a good idea to join in on a conversation. I'm only a college student, and he was a 50 year old veteran (even though he was on the coast guard), so I couldn't really tell him to fuck off. He was just so willfully ignorant about anything regarding economics/finance, yet insisted that he knew more than me. I don't care that he disagreed, but I do care that he was so willfully ignorant. He said that I probably got all my information from liberal professors, and that's why I disagree with him. I've never taken an economics or finance course in my life, I just care enough not to be ignorant. Anyway, why do you think people hold so many clearly wrong views regarding economics? Is it that they are uneducated? Is it that they are fed lies by politicians? Are they just stupid? Examples below:

>compares national economy to personal finances
not how that works
>doesn't understand tax brackets whatsoever
no, your entire earnings are not being taxed 90%, are you retarded?
>we should just stop spending on anything as a nation until we pay off our debt
what the fuck
>paying good wages is bad for a business and long term economic growth
well paid workers are happy workers are productive workers are consumers of your product/service
>1910s were the glory days
I'll let this speak for itself


I would be less pissed, but I missed THE GODDAMN HOCKEY GAME AND GOING TO DAIRY QUEEN WITH FRIENDS BECAUSE OF HIS DUMB ASS